If spa is signed then they may risk losing around 20% of the price(excluded rebate) for the current phase?

the above image are extracted from the FB Video.

so far only 9 unit evacuated where their house is damaged seriously, but if you look at the map, there are approximate 100x house & Shop in this area impacted.
nobody is going to buy it or rent it, as it is dangerous to stay.

let look for the possible option the developer have:

Option A: Repair and continue the development
Developer & DBKL rebuild the 9 affected house to it original state, repair other houses that affect by this development. (cheaper then buy over their house 800k-1.6m)
Continue the development of Nexus with a more gentle approach (using expensive way to construct the foundation)
Risk: but the other house might crack again and developer have to pause the project to fix it. (terrible, it affect the project timeline and cost)


Option B: Buy all the landed over and continue the development, add Nexus phrase 2, 3, 4, 5, 6
Developer & DBKL buy over all the 100x unit, den give them 1 unit + cash as compensation.
Continue to use the cheap approach to digging the land, save cost and continue development


Option C: Repair and cancel the development
Developer & DBKL rebuild the 9 affected house to it original state, repair other houses that affect by this development.
cancel the apartment development project, refund the purchaser.

Not sure what is the construction stage at the moment. Only buyer themselves can answer if they rather lose whatever amount now or gamble upon completion

Probably will end up nothing happen.. development continue, court case with developer forever until they get back money to pay lawyer fees

Hope next time same incident will kena by you. Then you might get the compensation.

Under HDA, construction less than 50%, dev can forfeit 10%.
Construction more than 50%, can forfeit 20%.

Since foundation not done, it's only at SPA stage, which is first 10%.
Dev can forfeit the first 10%, the amount depending on how many % rebate given. If 9% rebate, then only lost 1%. If only RM500 downpayment, then lose 500

I no luck owning such property

Better exit now than gamble on uncertainties, with these issues, confirm construction will be delayed, sure cut costs too since have to compensate and use more expensive foundation methods

Affected residents voice

https://fb.watch/dDqozu4TRj/?fs=e&s=cl

As developer, to minimized the cost, i think option A is the best choice, but after repair, they continue with cheap method, by enhancing and changing some method to continue the condo building.

As victim, they will most prefer to option B, get good compensation and left this sadness place.

Court case never get the best result for both parties, so both side gonna rugi.

whole piece of land value gone & became dangerous to continue live at that area. Victims is so unlucky. Hope they can get a good compensation and not exploitation by the greedy developer.

just worry whether this will drag down the cash flow of MKH other project only

Just my 2 cents. Rebuild ppls home sweet home and be a man as a good reputation developer.

Revamp the houses in to modern designs and redo the ground work for those affected. Developer bear the 75% cost. Those who doesn't want can sell to developer base on market price.

For those affected badly. Developer bear all the costs to revamp into modern designs.

This post has been edited by Asali: Jun 18 2022, 11:28 AM

Hi, is there any Whatsapp group of FB group for the purchaser of this property?

Im one of the purchaser also, please let me know if there's a whatsapp or fb group

This will be the best case scenario for buyers, but unfortunately MKH has never been known as a good reputation developer.

I can see MKH buying over, but at the current market price, which is dirt cheap. Homeowners all forced to sell to them as nobody else will buy houses there. MKH will then work out a deal with DBKL, convert land use, renew land lease and after people forget about this incident, launch another new project there!

Do let me know if there's any whatsapp/telegram owner group. If not Imma try to open 1 .

Project still can proceed?

Nah I think its still stopped since May, and I pass by Mon-Fri through MRT to check it . But from buyer perspective I haven't got any update yet so quite clueless at this stage.

Please open one

We just got a WhatsApp group. Do let me know if anyone is interested to join.